PTAD pays 237,306 pensioners N7.4b July benefits

It revealed that PENCOM was almost finalising arrangements to take over the payment of retired federal Heads of Service and Permanent Secretaries who fall under the Contributory Pensions Scheme (CPS) from PTAD in January next year.

The Pensions Transitional Arrangement Directorate (PTAD) has paid N7.4 billion to 237,306 pensioners under the Defined Benefit Scheme (DBS), being pensions for the month of July 2017.

A statement by the management of PTAD confirmed this in Abuja and stressed its commitment to paying pensioners as and when due. Meanwhile, PTAD and National Pensions Commission (PenCom) have met over the payment of retired heads of service and permanent secretaries.

It revealed that PENCOM was almost finalising arrangements to take over the payment of retired federal Heads of Service and Permanent Secretaries who fall under the Contributory Pensions Scheme (CPS) from PTAD in January next year.

There are 217 retired federal Heads of Service and Permanent Secretaries of which 137 fall under the Defined Benefit Scheme (DBS), while 80 fall under the CPS. PTAD said it administers all pension matters under the DBS, while PENCOM handle retirees under the CPS, noting that an agreement was reached in two Memoranda of Understanding (MoU) signed in 2016 and 2017 between the Pensions agencies for PTAD to pay the monthly pensions of retired federal Heads of Service.

“Provisions were made in the 2017 Budget for payment of all 80 retired Federal Heads of Service and Permanent Secretaries under the CPS,” PTAD said. It further said it has been able to ensure that the senior citizens receive their pension entitlements till date and would continue to do so until December 31, 2017.

Meanwhile, PENCOM has prepared the guidelines for the payment of the retired federal Heads of Service and Permanent Secretaries under the CPS. Executive Secretary of PTAD, Sharon Ikeazor, stressed the need to ensure smooth transition devoid of hitches, which could negatively impact on pensions payments.

Also, the Acting Director General of PENCOM, Aisha Dahir–Umar, assured representatives of the Council of Retired Federal Permanent Secretaries (CORFEPS) of a seamless transition, as budgetary preparations were in progress to ensure payments were made from January 2018.